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| Non-performing officers to face action | | J&K to adopt accrual based accounting: Rather | | Early Times Report
JAMMU, Feb 26: Appreciating Jammu and Kashmir finance department for its significant contribution in making finance accounts and appropriation accounts on time, Accountant General’s Office disclosed that this year J&K’s finance account 2009-10 was first to be signed by the Controller and Auditor General of India.
Office of Accountant General also informed about progress for adopting accrual based accounting by the task force constituted by Minister for Finance and Ladakh Affairs Abdul Rahim Rather. An Advisory Committee headed by Deputy Accountant General has been constituted in the office of AG, Jammu and Kashmir to coordinate with the state government in this regard.
This was stated at a high level meeting of the senior officers of finance department convened to have a detailed review and assessment of the fiscal management, maintained by Director Finance, Financial Advisors and Chief Accounts Officers in their respective government departments. Meeting was chaired by the Minister for Finance and Ladakh Affairs Abdul Rahim Rather.
Speaking on the occasion, Rather called upon the concerned officers to be more proactive to streamline accounting and finance functions in their respective departments and in no case allow drawls beyond budgetary allocations. He said FA and CAOs are watchdogs of State exchequer but regretted that some gross violations of financial discipline and codal formalities have surfaced in some cases which was most unfortunate and unacceptable.
Minister emphasized on maintaining budget control registers in each and every department to minutely monitor expenditures with a caution not to exceed drawls beyond budgetary allocation. He called for prompt response from the concerned on Audit and Inspection reports, Draft Audit Paras, Reconciliation of revenues and expenditure, Physical verification of stores in first quarter of every year, submission of Red Accounts and Quarterly Progress Reports (QPR) which are the basic parameters for enforcing the financial discipline and streamlining the financial management.
Sudhanshu Panday called for improving the mechanism for Budget control and monitoring system adding that Senior Finance Officers /FA/CAOs have a responsibility to guide the department including drawing and disbursing officers in all financial matters.
Principal Accountant General informed that AG’s office is in the process of transitioning from Financial Accounts to Financial Statements by putting together financial information in relation to various assets and liability of the State.
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